SATS cargo disappoints

All business segments except cargo achieved broad-based growth.

SATS Ltd. announced that in 2Q FY13, the number of flights it handled increased 5.5% year-on-year while unit services handled grew 6.1%, underpinned by an increase in services provided to bigger aircraft compared to a year ago.

Meanwhile the number of passengers handled rose 4.9% in the quarter to nearly 10 million. The announcement said gross and unit meals increased by 6.1% and 5.6% respectively, reflecting the passenger traffic growth momentum at Singapore Changi Airport.

However, the rate of decline in cargo throughput abated in 2Q FY13. It fell 2.6% year-on-year in the second quarter compared to a 5.2% decline in the first quarter. Cargo throughput in the second quarter, on the other hand, improved 2.7% on a quarter-on-quarter comparison.

In the first half of FY2012-13, all business segments except cargo achieved broad-based growth, led by higher volumes from flights and passengers handled as well as meals produced.